STOCKS NEWS EUROPE-Rolls rises as Citi upgrades to "buy"

For all you R-R watchers out there a broker upgrade from Citigroup coupled with a price upgrade from Deutsche has boosted the share price today.

Tue 21/12/2010 08:51
""Shares in Rolls-Royce RR.L gain 1.4 percent, among the strongest risers on Britains blue-chip index .FTSE , after Citi upgrades the aerospace engineer to "buy", saying that the company has a strong outlook and looks to be good value after recent underperformance.
"We have raised our underlying EPS forecasts to reflect faster than previously expected recovery in civil aerospace and higher profits in Marine, following the 3Q IMS statement," the broker says in a note in which it raises its price target to 760 pence.
Deutsche meanwhile, raises its price target on Rolls Royce to 665 pence from 550 pence in a note on the aerospace and defence sector, though it maintains its "hold" recommendation. ""
Reuters Messaging http://uk.reuters.com/article/idUKLDE6BK1UB20101221?pageNumber=2

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